PUG Stock Market Analysis, LLC | Technical Analysis Blog

PUG Stock Market Analysis is here to help with SP500, QQQ, IWM, Gold technical analysis, stock analysis and more.

  • Meta

  • Follow Blog via Email

    Enter your email address to follow this blog and receive notifications of new posts by email.

  • Subscribe

  • PUG Wave Labeling

    SCI-SCV, SCA-SCC: Super Cycle
    C1-C5, CA-CC :Cycle
    P1-P5, PA-PC : Primary
    [1]-[5], [A]-[C] : Major
    1-5, A-C : Minor
    (1)-(5), (a)-(c) : Minute
    i-v, a-b : Minuette
    Primary Count:
    White/Green (Bull Market)
    White/Red (Bear Market)
    Alternate Count: Blue

  • Categories

  • Archives

May 9th, 2022: SP-500 Chart Update

Posted by pugsma on May 9, 2022

5:40 pm EST: The SP-500 gapped down from 4123 to 4082, dropped quickly to 4003, rose to 4050, and then dropped the rest the day to 3975 (day’s low) and closed at 3991.

SP-500 Technical Indicators: Print SharpCharts from StockCharts.com

Wave Counts:

  • The primary (white/green) count is that major [C]-P2-C3 completed at 3975 or will complete at 3933, where major [C]=[A]. Note: The primary (white/green) wave count is valid above 3975 or if it drops to 3993, then above 3933.
  • The alternate (blue) count variation of the primary (white/green) count is the final wave minor 5 of major [C]-P2-C3 has a little more work to the downside. The minute (3) of minor 4, should target at least the (3)=(1) area at 3917, then a minute (4) bounce to the 38% Fib at 4008 and finally minute (5) down to the 3875, where minor 5=1.62*minor 1. Note: the 38% Fib retrace of P1 is at 3821 (-20.7% loss to just the edge of bear market).
  • The new alternate (red) count is that the drop to the 3975 to 3821 area is only major [W]-P2-C3 and after a major [X] wave bounce the 38%/50% Fib at 4200 to 4320 area there will be another large leg down for major [Y]-P2 (to the 50%/62% Fib of P1 at 3506 to 3190). Note: The alternate (red) count allows for a full-blown bear market in the SP500 down to typical loss of -35% (3132) and nearly 275 calendars into Oct/Nov 2022.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

SP-500 daily chart:

SP500 Technical Analysis

SP-500 weekly chart:

SP500 Technical Analysis

Sorry, the comment form is closed at this time.

%d bloggers like this: